BoE announced that it will publish results of the annual stress testing exercise for banks on December 05, 2018. BoE has received initial stress-testing submissions from banks and is in the process of analyzing the results. BoE had published details of the 2018 annual cyclical scenario (ACS) for the seven major UK banks and building societies on March 16, 2018.
The 2018 ACS assesses the resilience of the UK banking system to deep simultaneous recessions in the UK and global economies, large falls in asset prices, and a separate stress of misconduct costs. The stress incorporated in the ACS is not a forecast. Recognizing the deployment of resources both within BoE and at private institutions to prepare for Brexit, the Financial Policy Committee and the Prudential Regulation Committee have decided to delay the launch of the next biennial exploratory scenario of BoE to September 2019. BoE expects to publish the results of this exercise, along with the Financial Stability Report in June 2020.
Related Link: News Release
Keywords: Europe, UK, Banking, Stress Testing, Annual Cyclical Scenario, BoE
Previous ArticleECB Issues Selected Pillar 3 Information on Significant Institutions
EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.
In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.
IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.
FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.
EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.
FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.
RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.
The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.
HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.
ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).